Customers of Fremont Investment & Loan may find its Concord office half-empty or closed in the coming days as its parent company puts its subprime employees on paid leave until further notice, Fremont General Corp. announced Monday.

Fremont General issued a statement on Monday that residential lending employees were sent home with pay while the company attempts to find a buyer for the subprime unit. Fremont General is the second largest independent subprime lender in the country.

The news comes on the heels of the company’s announcement on Friday that it would stop subprime lending stemming from a proposed cease-and-desist order from the Federal Deposit Insurance Corp. The order called for a restriction of its subprime residential mortgage business.

“The company will not be doing any more subprime loans,” said company spokesman Dan Hilley. “And we are still seeking a sale on the subprime business.”

The company will continue to sell commercial real estate loans, according to Fremont General’s statement.

Oil

BP will acquire San Ramon-based Chevron’s 31 percent minority shareholding in the Netherlands Refining Co., or Nerefco, as well as Chevron’s stake in the jointly owned wind farm located at the refinery and shareholdings in the nearby crude oil terminal and storage facility and a number of associated pipelines.

The deal, which is expected to be completed during the first half of the year, will make the Nerefco Refinery a 100 percent BP owned asset.

Quick hits

An investment group announced the purchased a 90,000-square-foot office complex for $16 million, according to the Grubb & Ellis Co. The Lionstone Group, a Houston-based investment group, purchased Creekside Oaks, a 90,437-square-foot office complex in Walnut Creek, for approximately $16 million. The seller, Metcalf Family Living Trust of Lafayette, sold the four buildings that comprise the project. All four buildings–located at 1440, 1450, 1460 and 1470 Maria Lane– were built in 1980 and the property was 100 percent leased at the time of sale. . . . Berkeley-based Wesabe, a personal finance start-up, announced that the company closed a $700,000 venture capital financing round, led by O’Reilly AlphaTech Ventures. . . . Pleasanton-based Blackhawk Network, a provider of third-party gift cards, won the Most Innovative Product award during the recent Prepaid Card Expo in Las Vegas for its Gift Card Mall Destination concept. The concept refers to in-store displays containing dozens of gift cards from various retailers.

Compiled from wire and staff reports. Got Bay Area business news? Reach Drew Voros at 925-943-8099 or at dvoros@cctimes.com.